incapable of managing this economy in such a way as to effectively transition to a higher yield normalized environment they let instead the bond bubble built to three hundred year exchange now the bond pocalypse is upon us and russia quite smartly and china and other countries around the world are getting ahead of this by buying gold and they're buying gold aggressively as we've been saying that they should do yes now the first stage of this financial war was characterized by the fact that the banks didn't trust each other there was no interbank lending and now this sage of central banks and governments not trusting each other is of course like the first great depression the previous great depression anyway you know that starts to lead to world war is now the bank of russia has built up the world's fourth largest foreign. reserves worth five hundred thirty billion dollars and ten percent of that is in gold. that's right and as we head into a hot war from the cold war which is a follow on to the cold war and so we're going to see the fireworks start to explode here shortly and of course the music is st